Europe closes lower amid slow economic recovery

Monday, 12. April 2021 17:31

Major European stock markets closed lower on Monday as investors assessed the rate of economic recovery from the coronavirus pandemic. The Eurostat reported that seasonally adjusted volume of retail trade in the Eurozone and European Union as a whole climbed nearly 3% in February, compared to the prior month. Meanwhile, the European Commission proposed to exempt vital goods and services provided by the European Union from Value-Added Tax (VAT) in times of crisis.

DAX ended the session with 0.13% in the red, led by Siemens declining by 2.83%. The FTSE100 lost 0.39% with Rolls-Royce falling by 3.27%, while the CAC40 closed 0.13% lower as STMicroelectronics dropped by 2.31%

The euro grew by 0.10% against the dollar trading for $1.19117 at 5:34 pm CET, while the British pound advanced by 0.27% to $1.37475.

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Breaking the News / LH